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March 20, 1996

CIRRUS CUTS STAFF BY 13%

By CBR Staff Writer

Cirrus Logic Inc – which less than three months ago was rushing to add chip capacity, has changed its tune and warns that it is to cut its staff by a shock 3,500 employees or 13% as part of a restructuring aimed at sharpening its focus on key new products: the cuts affect regular and temporary employees across all operations, including wholly owned subsidiaries; it does however plan to expand its MiCUS manufacturing joint venture with IBM Corp and its joint venture with Lucent Technologies Inc; the restructuring will enable Cirrus to focus on key new products such as advanced chip products for mass storage in both the hard disk and CD-ROM areas, diversified multimedia and communications, it said.

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